Is OTT Trending in Europe?
By Media Entertainment Tech Outlook | Tuesday, January 21, 2020
The European media and entertainment sector is responding to broader global trends involving OTT to cater to local content consumption patterns.
FREMONT, CA: OTT has become the hottest topic in the media and entertainment industry. The amount of OTT media content consumed by European viewers has also gone up by a couple of hours, according to a market report. This surge in the content consumption of European viewers points to the fact that OTT is one of the most influential trends in the history of the European media and entertainment domain. Various factors have contributed to the rise of an OTT market in Europe. To understand the dynamics that rule the European OTT segment, one can try the perspectives of broadcasters, content producers, and technology providers.
• Collaborations between European Broadcasters
According to a report, the number of subscriptions to popular American OTT platforms in Europe is significantly less. The low penetration of popular global services has given European broadcasters the opportunity to expand services into the OTT domain. Another important trend that is evident in Europe right now is the collaboration between broadcasters. In order to save the viewers from having to choose between several fragmented OTT services, media broadcasters are joining hands and venturing into the OTT domain with strategic partnerships.
• Development of the Infrastructure
OTT services necessitate significant improvements in back-end capabilities. Given the fact that different broadcasters might produce videos and content in different formats, cross-compatibility becomes a challenge. Thus, European media companies need to device back-end infrastructure that supports varying formats and enables enhanced workflows. These developments are essential to keep European OTT providers in the competitive, high-growth league.
• Securing Rights Over Sports Content
European viewers demand high-quality broadcasts for every sporting event. The popularity of football in Europe is well known. This has resulted in a race between OTT providers in Europe to secure the rights for the broadcast of premium sporting events. The revenues that sports broadcasting provides are unmatched.
Understanding the expectations of the local community is crucial for the success of OTT services in Europe. However, there is also a lot of demand for global content of varying genres. A balanced approach can help broadcasters in Europe fuel the OTT trend and achieve better revenues.